How big is Bitcoin s carbon footprint? - The Globe and Mail theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Elon Musk single-handedly crashes bitcoin techcentral.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcentral.co.za Daily Mail and Mail on Sunday newspapers.
Tesla Inc will no longer accept bitcoin for car purchases, Chief Executive Elon Musk said on Wednesday, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrenc
FACTBOX-How big is Bitcoin s carbon footprint? Reuters 2 hrs ago
May 13 (Reuters) - Tesla boss Elon Musk s sudden u-turn over accepting bitcoin to buy his electric vehicles has thrust the cryptocurrency s energy usage into the headlights.
Some Tesla investors, along with environmentalists, have been increasingly critical about the way bitcoin is mined using vast amounts of electricity generated with fossil fuels.
Musk said on Wednesday he backed that concern, especially the use of coal, which has the worst emissions of any fuel .
So how dirty is the virtual currency?
POWER HUNGRY
Unlike mainstream traditional currencies, bitcoin is virtual and not made from paper or plastic, or even metal. Bitcoin is virtual but power-hungry as it is created using high-powered computers around the globe.